Dr. Craig Gibson reports

PRISMO METALS PROVIDES PALOS VERDES DRILLING UPDATE

Prismo Metals Inc. has provided an update for its continuing drill program at the Palos Verdes property located in the Panuco district in Mexico. The company has drilled 2,620 metres in the current program and completed 13 holes with one hole in progress, PV-23-32. One additional hole is contemplated after completing hole PV-23-32, as part of the original drill program which began in May (see news release dated May 11, 2023).

This will be followed by the previously announced (see news release dated Aug. 3, 2023) expansion of the drill program, with holes to be drilled from Vizsla Silver Corp. concessions adjacent to the Palos Verdes concession. These holes will target the Palos Verdes vein at depth. This follows a recommendation presented by the Panuco joint technical committee to drill approximately 3,600 metres in 10 holes to be completed in two phases. The joint technical committee is composed of Dr. Craig Gibson, Prismo's chief executive officer, Dr. Jesus Velador, Vizsla Silver's vice-president of exploration, and Dr. Peter Megaw.

"The drilling at Palos Verdes this year has been focused on drilling areas that have not been drilled previously because they were not accessible under our previous environmental permit," said Dr. Gibson, president and chief executive officer of the company. "We recently intersected bonanza-grade intervals at the Palos Verdes project, with the best interval being a 0.5-metre sample assaying 11,520 grams per tonne silver equivalent (102 g/t gold and 3,100 g/t silver) (see Prismo's news release dated July 27, 2023). The drilling is directed toward expanding the mineralized footprint of the vein system."

The company has already reported assays from the first seven holes in the program through hole PV-23-25 (see news release of July 27, 2023). Five additional holes are at the laboratory and hole PV-23-31 will be sent to the lab shortly. Results will be announced after receiving assay data for all of these holes.

Quality assurance/quality control (QA/QC)

Samples taken by Prismo are analyzed by multielement ICP-AES (inductively coupled plasma atomic emission spectroscopy) and MS (mass spectrometry) methods at internationally recognized analytical service providers. Certified reference materials, including standard pulps and coarse blank material are inserted in the sample stream at regular intervals.

Dr. Gibson, PhD, CPG, a qualified person as defined by National Instrument 43-01 regulations, and president, CEO and a director of the company, has reviewed and approved the technical disclosures in this news release.

About Palos Verdes

The Palos Verdes project is located in the historic Panuco-Copala silver-gold district in southern Sinaloa, Mexico, approximately 65 kilometres northeast of Mazatlan, Sinaloa, in the municipality of Concordia. The Palos Verdes concession (claim) covers 700 metres of strike length of the Palos Verdes vein, a member of the north-easterly trending vein family located in the eastern part of the district, outside of the area of modern exploration. Shallow drilling (less than 100 m) conducted in 2018 on the Palos Verdes vein was targeted 30 m to 50 m beneath largely barren vein outcrops and cut a well-mineralized multistage vein two m to seven m wide, with narrow intervals of high-grade precious metal values and subordinate base metals (see the table of intercepts at the company's website). This mineralization is open in all directions, and the currently planned drilling program is designed to follow it along strike and to depth.

About the Vizsla Silver Panuco project

The newly consolidated Panuco silver-gold project is an emerging high-grade discovery located in southern Sinaloa, Mexico, near the city of Mazatlan. The 7,189.5-hectare, past-producing district benefits from over 86 kilometres of total vein extent, 35 kilometres of underground mines, roads, power and permits.

The district contains intermediate- to low-sulphidation epithermal silver and gold deposits related to siliceous volcanism, and crustal extension in the Oligocene and Miocene. Host rocks are mainly continental volcanic rocks correlated to the Tarahumara formation.

The Panuco project hosts an estimated in situ indicated mineral resource of 104.8 million ounces (Moz) silver equivalent (AgEq) and an in situ inferred resource of 114.1 Moz AgEq. An updated National Instrument 43-101 technical report titled "Technical Report on the Mineral Resource Estimate Update for the Panuco Ag-Au-Pb-Zn [silver-gold-lead-zinc] Project, Sinaloa State, Mexico" was filed on SEDAR on March 10, 2023, by Vizsla Silver, with an effective date of Jan. 19, 2023, and was prepared by Allan Armitage, PhD, PGeo, Ben Eggers, MAIG, PGeo, and Yann Camus, PEng, of SGS Geological Services.

About Prismo Metals Inc.

Prismo is a mining exploration company focused on two precious metal projects in Mexico (Palos Verdes and Los Pavitos) and a copper project in Arizona (Hot Breccia).

We seek Safe Harbor.